regulation

Super funds are failing in their primary duty of understanding customers’ retirement income needs and aren’t doing enough to address known data gaps, the regulators said, criticising their slow progress under the retirement income covenant.

Review leader Michelle Levy has drafted a plan aimed at not only reducing the cost to provide comprehensive advice, but also allowing banks and super funds to re-enter the field and provide more people with simple advice on everyday personal finance matters.

Clanz COO Stuart Burnicle believes Australia will see wider crypto adoption, despite running well behind many other countries in regulation.

The financial services minister is looking at tackling scammers at the source: “Does our barista down the corner really need my email address, my bank details, my name and my mobile phone number just to buy a cup of coffee?”

Crypto is the second most common product held by Australian investors.